Sub: Disclosure on Tata Steel and thyssenkrupp sign definitive Joint Venture agreements to create new steel champion in Europe

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1 June 30, 2018 The Secretary, Listing Department BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai Maharashtra, India. Scrip Code: / The Manager, Listing Department National Stock Exchange of India Limited Exchange Plaza, 5th Floor, Plot No. C/1, G Block, Bandra-Kurla Complex, Bandra (E), Mumbai Maharashtra, India. Symbol: TATASTEEL/TATASTEELPP Dear Madam, Sirs, Sub: Disclosure on Tata Steel and thyssenkrupp sign definitive Joint Venture agreements to create new steel champion in Europe This has reference to our even dated press release on the above mentioned subject. The details of the transaction are given in Part A and B below: PART A The details of divestment are as under: SN. Particulars Details The turnover (revenue from operations) of the European business of Tata Steel Limited (the Company ) in the Financial Year ended 2018 was approximately Rs. 59,985 Crore. As a percentage of Company s consolidated turnover, this is c.45%. 1 2 The amount and percentage of the turnover or revenue or income and net worth contributed by such unit or division of the listed entity during last Financial Year Date on which the agreement for sale has been entered into The net worth of the European business of the Company as of the close of the Financial Year ended 2018 was negative (prior to restructuring of intercompany debts owed by the European business to the residual Tata Steel Group and prior to restructuring of various intercompany liabilities, which will be carried out between the signing of the joint venture agreements and completion). By comparison, the net worth (excluding noncontrolling interests) of the Tata Steel group is Rs. 60,870 crore as of the close of the Financial Year ended June 30, 2018 Registered Office Bombay House 24 Homi Mody Street Fort Mumbai India Tel Fax Website Corporate Identity Number L27100MH1907PLC000260

2 SN. Particulars Details The expected date of completion of sale / disposal Consideration received from such sale / disposal Brief details of buyers and whether any of the buyers belong to the Promoter / Promoter Group/ Group Companies. If yes, details thereof; Subject to the parties having obtained necessary regulatory approvals in a timely manner, parties anticipate that the transaction will be completed within months from the date of execution of the Transaction Documents. Orchid Netherlands (No 1) B.V ( TS Seller ), thyssenkrupp Technologies Beteiligungen GmbH ( tk Seller ), thyssenkrupp AG, thyssenkrupp Netherlands Project B.V ( JV Co ) and the Company (in its capacity as the ultimate parent of the TS Seller) have entered into a contribution agreement providing for the establishment of a fifty/fifty (50:50) joint venture, in order to combine the European business activities of the Tata Steel group and the European flat steel activities of the tk Group in order to create an integrated flat steel producer based in Europe. The TS Seller has agreed to procure the contribution of the entire shareholding in Tata Steel Netherlands Holdings B.V. (and consequently all assets/entities held by Tata Steel Netherlands Holdings B.V.), to the JV Co in consideration for which the TS Seller shall be entitled to 50% of the share capital of the JV Co at completion. The tk Seller has agreed to contribute its entire shareholding in thyssenkrupp Dritte Beteiligungsgesellschaft mbh, a whollyowned subsidiary of the tk Seller with its registered office in thyssenkrupp Allee 1, Essen, Germany and thyssenkrupp Second Participations B.V., a wholly owned subsidiary of the tk Seller having its registered office in Taylorweg 7, 5466AE Veghel, Netherlands (and consequently all assets/entities directly or indirectly held by such companies) to the JV Co in consideration for which the tk Seller shall be entitled to 50% of the share capital of the JV Co at completion. TK: The tk Seller is a private company with limited liability under the laws of Germany, having its official seat in Essen, Germany, and its office at thyssenkrupp Allee 1, Essen, Germany. tk Seller is an indirect wholly owned subsidiary

3 SN. Particulars Details of tk AG. thyssenkrupp AG, is the ultimate holding company of the tk group. The tk group is a diversified industrial group in the areas of steel, industrial goods and services. The flat carbon steel activities of tk group are primarily carried out of Europe and on completion, will be held by the tk Seller. The tk Seller is not related to the Company or its Promoter/Promoter Group. 6 7 Whether the transaction would fall within Related Party Transaction? If yes, whether the same is done at arm s length Additionally, in case of a slump sale, indicative disclosures provided for amalgamations / merger, shall be disclosed by the listed entity with respect to such slump sale. Neither tk AG nor the tk Seller are Related Parties of the Company. The Company has executed the Transaction Documents in its capacity as the ultimate parent of the TS Seller. No

4 PART B The details of acquisition are as under: SN Particulars Details For the purpose of this disclosure, the JV Co is regarded as the Target entity. Details of the JV Co: thyssenkrupp Netherlands Project B.V. (to be renamed thyssenkrupp Tata Steel B.V.) is a private company with limited liability incorporated under the laws of the Netherlands in Veghel, the Netherlands and its office at Taylorweg 7, 5466AE, Veghel, the Netherlands, registered with the Dutch Trade Register of the Chamber of Commerce under number Name of the target entity, details in brief such as size, turnover etc. JV Co will be positioned as a leading pan European high quality flat steel producer with a capacity of approx. 23.4Mt. It combines the businesses of Tata Steel Europe and thyssenkrupp Steel Europe as well as thyssenkrupp s Mill Services business with integrated steel making facilities across Germany, Netherlands and the UK. The JV Co will have a long term external debt of around 2.5 billion (subject to completion of accounts) compared to a proforma EBIDTA (including estimated synergies of approximately 400 to 500 million) of around 2 billion per annum in the next 2-3 years. The tk Seller and the TS Seller will be equally represented in the two-tier governance structure that comprises a Supervisory Board and a Management Board each with six members. Respective employee representation structures in European countries and a European Works Council (EWC) will be retained. In addition, an Employee Executive Committee (EEC) will be established, in which the Management Board and employee representatives of the Joint Venture will discuss strategic matters. 2. Whether the acquisition would fall within related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? Please refer to Part A - item 6 above.

5 If yes, nature of interest and details thereof and whether the same is done at arm s length 3. Industry to which the entity being acquired belongs Manufacturing and sale of Steel and Steel products and ancillary businesses 4. Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity) JV Co will be positioned as a leading pan European high quality flat steel producer with a strong focus on performance, quality and technology leadership to support customers sustainability ambitions. The transaction is not subject to any governmental approval in India. The transaction is, inter alia, subject to the following offshore regulatory approvals: 5. Brief details of any governmental or regulatory approvals required for the acquisition Merger control approval in various jurisdictions (including the European Commission); No-objection from the German Federal Ministry for Economic Affairs and Energy Approval of the French Ministry of Economy and Clearance from the Committee on Foreign Investment in the United States Indicative time period for completion of the acquisition Nature of consideration - whether cash consideration or share swap and details of the same Cost of acquisition or the price at which the shares are acquired Percentage of shareholding / control acquired and / or number of shares acquired The transaction is also conditional upon the prior approval by the shareholders of the Company. Please refer to Part A - item 3 above Please refer to Part A - item 4 above. Please refer to Part A item 4 above. The tk Seller and the TS Seller will each hold 50% of the shares of the JV Co at completion. There is no cash consideration against the transfer of assets. The Parties have agreed that certain additional shares may be issued to the tk Seller on a public market listing of the JV Co.

6 10. Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief); Please refer to Part A Item 5 for details of the tk Seller. Please refer to Part B Item 1 for brief details of the JV Co. This disclosure is being made in compliance with Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, This is for your information and records. Yours faithfully Tata Steel Limited Mrs. Anita Kalyani Interim Company Secretary

1. Withdrawal of the Draft Scheme and termination of the Implementation Agreement;

1. Withdrawal of the Draft Scheme and termination of the Implementation Agreement; = lllff HT MEDIA LIMITED Regd. Office : Hindustan Times House 18-20. Kasturba Gandhi Marg New Delhi - 110001 Tel. : 66561234 Fax: 66561270 www.hindustantimes.com E-mail : co rporatedept@hindustantimes.com